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-   -   Is it possible to make 20k to 70k in short time (7 weeks)? (https://www.forexfactory.com/showthread.php?t=91949)

jimo Jun 16, 2008 3:12pm | Post# 1

Is it possible to make 20k to 70k in short time (7 weeks)?
 
Hello Traders
i am in forex near 2 years and lost and win many times.
some days ago i found some one he told me he can make it and show me own account history.
first i dont belive but after saw history and live account accept it .
he dont follow money management but he earn that amount and told all things ar secret!.
now i want know FF traders idea about this trader.

howdytest Jun 16, 2008 3:24pm | Post# 2

v. 1mil

it's possible, just not smart.

/thread.

robertsonakp Jun 16, 2008 3:25pm | Post# 3

Re : is it possible to make 20k into 70k
 
yes this is very very ppossible. it all has to do with experience, vast technical and fundamental knowledge and a profound system. i have once done it but if this attitude continues , one day will be a crashing day!



Account management puts me on the safer side and makes me survive longer for as many years as possible................................

Enjoy the pips

fxRichard Jun 16, 2008 3:32pm | Post# 4

This is very possible...

TJPLD Jun 16, 2008 4:52pm | Post# 5

Is it possible to win the lottery? Yes.
So why don't you win the lottery? Go ahead.

Not that 20-70k is thaaat amazing but you can't hold up that risk for years.
At some point it will get back at you.

tommyd Jun 16, 2008 6:02pm | Post# 6

If you had a $500,000. account and made 10% a month you could do it easy.
Do you have a $500,000. account??

hanover Jun 16, 2008 6:35pm | Post# 7

Hello Traders
i am in forex near 2 years and lost and win many times.
some days ago i found some one he told me he can make it and show me own account history.
first i dont belive but after saw history and live account accept it .
he dont follow money management but he earn that amount and told all things ar secret!.
now i want know FF traders idea about this trader.
Jimo, the simple answer is that with leverage and luck almost anything is possible.

The question is: can it be done consistently? 20k to 70k is 250% gain in 7 weeks. Compound that for a year, and (at least theoretically) you'd own half the world in just a few years. The best traders that I know of aim for anything between 30% and 100% in a year (but they also have months, and even years, when they lose money).

The bottom line is that 7 weeks means nothing. A 250% gain across 7 years is more impressive, at least statistically.

You can get a good idea of the probabilities by looking at something like IBFX's mini-challenge:
https://secure.ibfx.com/Contest/ContestResults.aspx
Check out the results. There are one or two traders who've made 500% upward within the 25 days on a live account. In the June results so far, all of the top 100 (out of 722) have done better than 20%. However, there are also plenty of traders who have lost their entire account. And I don't see anybody's name appearing in the top 10 for more than one month.

You might also be interested in this thread:
http://www.forexfactory.com/showthread.php?t=56670

Good luck,
David

rusty105 Jun 16, 2008 7:34pm | Post# 8

Actually the top guy is at 944% gain Which is just crazy. I agree you can't hold that luck for long! As a side note, some accounts were -99% after the first day.

Rusty

BBPI_fxtrader Jun 16, 2008 8:27pm | Post# 9

stop asking such questions, seriously now.
everything is possible in forex

Bemac Jun 16, 2008 9:27pm | Post# 10

Hello Traders
i am in forex near 2 years and lost and win many times.
some days ago i found some one he told me he can make it and show me own account history.
first i dont belive but after saw history and live account accept it .
he dont follow money management but he earn that amount and told all things ar secret!.
now i want know FF traders idea about this trader.
If you have been doing this for Two Years & yet, still have to ask this question; Trading is Probably Not For You. Unless you want to make some Other Guy who couldn't do it {on his own} (Failed but says he didn't...) Rich by giving him Your HEC {Hard Earned Cash} , I would suggest you are possibly 25% up the "Learning Curve"

My Suggesetion... Save YOUR Money !

tdion Jun 16, 2008 9:51pm | Post# 11

you can turn 20k into 70k in an hour.....

you can also turn 20k into 0k in an hour....

Jay Walker Jun 16, 2008 10:23pm | Post# 12

Is it possible to win the lottery? Yes.
So why don't you win the lottery? Go ahead.
This reminded me of a quote from a Simpsons episode

Everyone wins the lottery, why don't you win the lottery too!

Jimo, it's possible to do it.

It's also possible to spend the night with Heidi Klum and Jessica Alba on a beautiful yacht...floating down Main Street.

Well, both are about as far fetched.

So the short answer is yes, it's possible. But is it the sensible thing to do? No. And is it something that can be done consistently? Absolutely not.

Rabid Jun 16, 2008 11:10pm | Post# 13

It's also possible to spend the night with Heidi Klum and Jessica Alba on a beautiful yacht...floating down Main Street.

Well, both are about as far fetched.

Whaaaaaaaaat?!?! Dang, there goes my whole reason for trading...

opie999 Jun 17, 2008 12:18am | Post# 14

Whaaaaaaaaat?!?! Dang, there goes my whole reason for trading...
But trading is a zero sum game. We can't both spend the night with Heidi Klum and Jessica Alba on a beautiful yacht...floating down Main Street (!?). You'll just have to be persistent and maybe some day.......

Jay Walker Jun 17, 2008 12:21am | Post# 15

But trading is a zero sum game. We can't both spend the night with Heidi Klum and Jessica Alba on a beautiful yacht...floating down Main Street (!?). You'll just have to be persistent and maybe some day.......
Well, we could but who would want to share that?

opie999 Jun 17, 2008 12:26am | Post# 16

Well, we could
Nope, no way.
but who would want to share that?
Exactly.

traderjai_inhi Jun 17, 2008 5:20am | Post# 17

Well, we could but who would want to share that?
I'm sure their husbands wouldn't want to

skyline Jun 17, 2008 5:34am | Post# 18

Hello Traders
i am in forex near 2 years and lost and win many times.
some days ago i found some one he told me he can make it and show me own account history.
first i dont belive but after saw history and live account accept it .
he dont follow money management but he earn that amount and told all things ar secret!.
now i want know FF traders idea about this trader.
He's simply a gambler.

forexmoments Jun 17, 2008 6:26am | Post# 19

He's simply a gambler.
Hit the nail on the head. Probably a martingale as well.

jimo Jun 17, 2008 8:21am | Post# 20

you can turn 20k into 70k in an hour.....

you can also turn 20k into 0k in an hour....
yes its possible los all money in 1 min 2 min but making money is hard


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